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Gold futures lose weight as dollar firms up

Silver too fell on reduced orders from industrial units and coin makers.

ETMarkets.com|
Feb 11, 2019, 12.05 PM IST
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An employee sorts gold bars in the Austrian Gold and Silver Separating Plant 'Oegussa' in Vienna
In global markets, a stronger dollar robbed gold of its appeal to an extent.
NEW DELHI: Gold futures lost ground on Monday, dampened by lower demand at the spot market.

In global markets, a stronger dollar robbed gold of its appeal to an extent.

According to Reuters, SPDR Gold Trust saw outflows for five straight sessions last week. The dollar index hovered near more than 1-month high hit in the previous session.

Gold Rates - Spot & Futures (.995 purity) (MCX)

DateGold Spot Price
Rs/10 grms (Ahmedabad)
Gold Future Price
Rs/10 grms Expiry: 05-Aug-2019
18-06-201932918.033016.0
14-06-201933061.033074.0
13-06-201932632.032974.0
12-06-201932590.032775.0
11-06-201932331.032678.0
10-06-20190.032679.0
07-06-201932607.032940.0
04-06-201932407.032596.0
31-05-201932056.032231.0
29-05-201931802.031835.0
28-05-201931710.031655.0


A strong dollar means gold prices will depreciate as the commodity becomes dearer in other currencies, causing a fall in its demand.

Silver too fell on reduced orders from industrial units and coin makers.

The MCX Gold was trading at Rs 33,155 per 10 grams, down by Rs 87, while MCX Silver was Rs 85 lower at Rs 40,020 a kg around 11.15 am.
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